[2017-09-18] Dubai Financial Regulator Issues ICO Warning

[bitcon]

A financial markets regulator in Dubai has joined a growing list of authorities around the world to issue a warning on initial coin offerings (ICOs).

The Dubai Financial Services Authority (DFSA), the financial regulator of a purpose-built international financial free zone in Dubai, has drawn attention to token sales by urging investors to be wary of ‘unique risks’ inherent in ICOs.  “These offerings should be regarded as high-risk investments” the regulator stated.

You can read further here:
https://www.cryptocoinsnews.com/dubai-financial-regulator-issues-ico-warning/amp/


Every government start afraiding of cryptocurrencies. And with sauce of helping people that proclaimed such things.

[iamTom123]

We have to understand that these authorities are just doing their job of protecting the people from any unscrupulous individuals who might be using the ICO platform to scam many. And while many of the ICOs we have can be good, there is no question that some are not really worth looking at. Today, we are swimming in the sea of ICOs and this forum is the main witness to its massive proliferation.

It is on this environment when authorities can be warning about us about the risks and perils of many ICO projects. Although I personally believe that self-regulation is the best scheme that should be implemented here, I am not blaming the authorities if they will really regulate the ICO platform...regulations can be better than outright banning a fledgling industry that holds many potential for growth and innovations.

[Snaic]

To protect the rights of investors when investing in ICO projects is necessary. This is normal activity of each state. However, if this was not a pretext for the beginning of the offensive on the whole of the cryptovt, as the Chinese government is doing now. According to the latest news, they are preparing draconian measures to completely ban the circulation of crypto currency in this country.

[richardsNY]

I am supporting any governmental attempt to help protect people when it comes to the sheer number of scam ICO's that this market counts. It's mind boggling knowing how easy it is to hit the jackpot by just setting up an ICO and make it look like a promising project, while in reality it's just hot air. On the other hand, we shouldn't forget that people themselves are also part of the problem. No one is forcing people to invest their hard earned money into whatever ICO -- they at the end of the day are responsible for their own actions. If you blindly invest in something, or just don't care whether or not it's a legit project you're investing in due to your greed, you according to me lose the right to complain.

[Falgorn]

It is absolutely necessary to establish order in the activity of providing primary coins (ICO) and protect their citizens from fraud in this activity. Due to the fact that recently ICO appear almost every day, the risk level for potential investors has also increased. If only such care for its citizens did not turn into the beginning of an offensive against the crypto currency in China.

[vit05]

Oh boy! Here we go again~

Dubai money/btc is way more decentralized than China. But is probably big money. Especially as first invertors in ICO.